Kikis Kazamias had one of the shortest terms of office in the history of the Republic. Government Spokesman, Stephanos Stephanou announced officially his resignation on Friday, confirming latest reports.

In a written statement, Mr. Stephanou announced that Demetris Christofias accepted the resignation of Mr. Kazamias.

Mr. Stephanou kept his distance from reports according to which Mr. Kazamias had disagreed with the President on the non appointment of Athanasios Orphanides as CB Governor and the casinos.

“Reports according to which the Finance Minister resigned due to disagreements with the President of the Republic do not correspond to reality”, he said.

Mr. Stephanou also confirmed that the President decided to proceed with a partial reshuffling.

The decisions will be announced on Monday, March 19.

Explaining the background, Mr. Stephanou said that few days ago, the Finance Minister had handed in his resignation from the President exclusively for health reasons.

Mr. Kazamias abstained from his duties for nearly a month because of a problem in the leg.

“The President asked by the Minister of Finance to remain in place. However, the Finance Minister insisted on the resignation, and eventually, the President accepted it”, he said.

Mr. Kazamias was appointed in August 2011 and connected his name with the pension system reform, the extraordinary contribution of the public employees and the freezing of COLA.

He has been criticized for the significant delay in the promotion of growth measures, the early announcement of the intention to open casinos and the delay in the restructuring of the way of payment of COLA.

Mr. Kazamias reversed the negative climate that had to do with the Central Bank Governor, Athanasios Orphanides and the banking system.

His term of office is the second shortest in the history of the Republic after that of Constantinos Kittis in 1985, who was transferred to another Ministry.